Select Medical is a healthcare company with approximately 42,000 employees throughout the United States. It owns long term acute care and inpatient rehabilitation hospitals, as well as occupational health and physical therapy clinics. The company is based in Mechanicsburg, Pennsylvania and was co-founded in 1996 by Rocco Ortenzio and Robert Ortenzio. Its parent company is Select Medical Holdings, which is listed on the New York Stock Exchange.
Video Select Medical
History
Co-founded in 1996 by Rocco Ortenzio and Robert Ortenzio, Select Medical began as a regional provider of outpatient physical rehabilitation. Contract therapy was added to the company's specialized health care offerings in 1997, and was quickly followed by the introduction of long-term acute care in 1998. In 1999, Select Medical made one of its largest acquisitions by purchasing NovaCare Physical Rehabilitation and Occupational Health.
In April 2001, the company completed an initial public offering and was listed on NASDAQ. Fourteen months later, Select Medical was listed on the New York Stock Exchange, where it is currently traded under the NYSE: SEM ticker. In 2004, the company acquired the Kessler Institute for Rehabilitation, thus formally adding inpatient medical rehabilitation to its patient care offerings. Further growth in this newest care line continued through joint ventures with Penn State Milton S. Hershey Medical Center, SSM Health Care - St. Louis and Baylor Health Care System in 2011.
In 2015, Select Medical completed one of its largest acquisition to date when it entered into a joint venture partnership for the purchase of Concentra, a national health care company that delivers a wide range of medical services, including urgent care, occupational medicine and physical therapy.
In 2016, Select Medical divested its Contract Therapy business, Select Medical Rehabilitation Services, to an affiliate of Revelstoke Capital Partners LLC. Select Medical also acquired Physiotherapy Associates, a national provider of outpatient physical rehabilitation care.
Maps Select Medical
Company Timeline
November 1996: Select Medical Corporation is co-founded by Rocco Ortenzio and Robert Ortenzio
February 1997: Company commences operations
February 1997: Company commences outpatient operations
June 1997: Select Medical Corporation acquires its first contact therapy business
June 1998 and November 1998: Select Medical Corporation makes pedestal LTAC hospital acquisitions
November 1999: Select Medical Corporation makes one of its largest outpatient division acquisitions
April 2001: Company completes Initial Public Offering and is listed on NASDAQ
August 2002: Company is listed on the New York Stock Exchange
September 2003: Select Medical Corporation enters the medical rehabilitation hospital segment
January 2004 and 2005: Company is recognized by Forbes magazine as one of the Best Managed Companies in America
February 2005: Select Medical Corporation becomes a privately held company
July 2004 through 2011: U.S. News & World Report recognizes company's Kessler Institute for Rehabilitation as one of America's top rehabilitation hospitals
May 2007: Company doubles its outpatient division through strategic acquisition
September 2009: Select Medical Holdings Corporation completes Initial Public Offering and is listed on the New York Stock Exchange (NYSE:SEM)
July 2011: Company re-brands as Select Medical and adopts its first tag line: "Improving Quality of Life."
December 2012: Company announces post-acute care partnership with Emory Healthcare
June 2013: Company announces acquisition of inpatient rehabilitation facilities that become HonorHealth Rehabilitation Hospital and Select Specialty Hospital of San Antonio; company announces an expanded partnership with OhioHealth creating the OhioHealth Rehabilitation Hospital
December 2013: Company announces partnership with Cedars-Sinai and UCLA Health System to create the California Rehabilitation Institute
March 2014: Company announces partnership with TriHealth to operate the TriHealth Rehabilitation Hospital serving the greater Cincinnati area
June 2014: Company announces joint venture with the Cleveland Clinic to operate the Cleveland Clinic Rehabilitation Hospital in Northeast Ohio
July 2014: Company announces joint venture with PinnacleHealth System to operate the Helen M. Simpson Rehabilitation Hospital and 23 outpatient clinics in Central Pennsylvania
June 2015: Company completes acquisition of Concentra Inc., a national health care company that delivers a wide range of medical services, including urgent care, occupational medicine and physical therapy; the company also announces a strategic partnership with New Orleans-based Ochsner Health System to build a new inpatient rehabilitation facility
February 2016: Company announces agreement with Kindred Healthcare, Inc. to acquire hospitals from each other.
March 2016: Company announces sale of its Contract Therapy business and completes acquisition of Physiotherapy Associates (Physio)
June 2016: Company completes the exchange of Hospitals with Kindred Healthcare. Inc.
References
Source of the article : Wikipedia
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